All Forum Posts by: Stephanie Jacobson

Ah, Conesus is one of my favorites! Let me know if you ever come down Ithaca/Watkins Glen way, I'd be happy to help.

I agree with @John Underwood that that's actually the best method right now. Where in the Finger Lakes are you considering?

Quote from @Alvita Quintuna:

Looking for an experienced home inspector in Binghamton, NY. Preferably Spanish Speaking. Any recommendations. Thank You in advance 

Rick Kie with Accredited is the best, hands down. But CALL HIM- don’t use his website or it will quote you an insane amount of money. Tell him I sent you!

acchouseinsptoday.com 

I second @Zach Edelman, the Ithaca area is fantastic for STRs. Folks seem to do best who buy single families just outside of the town of Ithaca, but you have to be careful- some municipalities allow them and some don’t. I’ll shoot you a message- happy to help!

Quote from @Erik Satterthwaite:

Quote from @Stephanie Jacobson:

Quote from @Erik Satterthwaite:

Hello Stephanie,

I purchased a two family in binghamton last year. I used Gary's firm to close in fact. make super low ball cash offers and you can get something nice that'll cash flow. due your diligence before committing to a purchase. everywhere, people need a place to live. just make sure the numbers crunch and you'll be fine. I have yet to find a property manager up there however. 

 Nicely done! That’s exactly it, run the numbers carefully and conservatively. Where in the city did you buy?

 Hello,

The property is located in what is considered the North Side of town.

 So a family rental? Smart, you're dodging all the rezoning nonsense on the West Side.

Quote from @Erik Satterthwaite:

Hello Stephanie,

I purchased a two family in binghamton last year. I used Gary's firm to close in fact. make super low ball cash offers and you can get something nice that'll cash flow. due your diligence before committing to a purchase. everywhere, people need a place to live. just make sure the numbers crunch and you'll be fine. I have yet to find a property manager up there however. 

 Nicely done! That’s exactly it, run the numbers carefully and conservatively. Where in the city did you buy?

Quote from @Hedman Maximus:

Quote from @William Merone:

What counties in upstate New York are you investing?

 Binghamton NY

 Hm. Yeah, sounds like you picked up properties in areas that aren't performing well. Can you tell me a bit more about where they are and what kind of conditions the properties are in? As I'm sure you know, Binghamton is going through a massive zoning shake-up and where people are living is going to change a bit.

If your properties are in an area that's expected to benefit, like south side or JC, they might be really worth holding onto. Otherwise, offering seller financing or selling outright and buying one solid building (rather than five rundown places) might not be a bad idea. Do you have any ability to value add through renovations, or stabilizing tenants?

Quote from @Duncan Kaja:

Quote from @Matthew Manzi:

Hello BiggerPockets Community!

I am new to real estate investing and new to BiggerPockets and have to say how thankful I am to have found this community.

Im a CPA by trade with a primary background in financial statements / tax but real estate has always been a dream of mine. Over the past few months I have been taking the time, educating myself via books and forums, developing financial analysis tools and I feel ready to finally jump into the game.

Given my location (Central Jersey) and goals, I feel like Binghamton, NY will be my first location focus and I wanted to start building my team. If anyone has any recommendations on 1) Real Estate Agents, 2) Property Managers, 3) Lenders (that would lend to a new LLC), 4) Contractors in the area - I wanted to start interviewing, so I would definitely appreciate any feedback.

Any insights / perspectives that can be shared are truly appreciated! Thanks again everyone and I look forward to hearing from everyone!

Thanks,

Matt

 Id love to help you build your team and take care of the financing for you

 This was two years ago, lol. Matt, any updates for us?

Quote from @Robert Alexis:

@Stephanie Jacobson I live in nyc and am looking to purchase a turnkey (or close to turnkey) home in either of these areas. Existing tenants is ideal (student housing preferably) with 4-8 doors

Gotcha. Well I don’t know anything about Albany, but in Binghamton, Lisa Antalek with Creative Property Solutions is my favorite. I also really like Dave Micha with Sall and Associates for student properties. 

Quote from @Robert Alexis:

Looking into properties in the Binghamton and Albany area and am interested in connecting with a reliable agent, inspector, property manager, and contractors. 

Would be grateful for any recommendations folks can share!

 Those are two fairly different markets. What are you looking for, exactly?